Credit and Caución subscribes an agreement with the ICO to promote the Line ICO-Exporting
3 July 2013
The general director of Strategy and Financials of the ICO, Fernando Navarrete Rojas, and the general director of
The agreement, that freamers in the profundización of the public collaboration deprived of the ICO with the main operators of the insurance of credit in Spain, pursues to improve the guarantees of the exporting companies, so that they can obtain in the financial entities collaborators liquidity by means of the anticipate of the bills by the sales of goods and services realised in the outside, whose risk of non-payment is covered by these insurance, with charge to the Line ICO-Exporting.
As it collects the agreement, Credit and Caución has set up a System of Information to give the maximum trasparencia to the guarantees of the safe and promote with this the granting of financials by part of the Financial Entities to his customers. Through this system, known like SIB, the company ensured by Credit and Caución accesses to a listing of his commercial wallet to activate, customer to customer, the clauses of beneficiario in favour of his financial entity, what awards to the financial entity access to the information of the limits of coverage for all the operations to credit with the customer designated.
In the current frame of financial difficulties, the diverse operators of the insurance of credit are developing solutions that allow to contribute additional guarantees to the financial entities and facilitate the granting of financial credit. The peculiarity of the SIB is that, to facilitate the use of the solution, do not exist cost of adhesion for the Financial Entities or the companies ensured.
The ICO has set up the Line ICO-Exporting headed to autonomous and Spanish companies that issue derivative bills of the sale of goods and services realised to customers out of the national territory.
The purpose of this Line is to facilitate and promote the exporting activity of the autonomous and Spanish companies. It is the first time that the ICO, through the collaboration with banks and boxes, concedes financials in the short term, complementing of this form the offer of the financial sector.
Through this Line will be able to anticipate the bills that proceed of the exporting activity of the customers and that have a date of vencimiento no upper to 180 days, from the date of the anticipate. The maximum amount of financials will be 100% of the amount of the bill, although the maximum credit by customer and year will not be able to be upper to five million euros, in one or several operations. The Line ICO-Exporters is structured so that the guarantees of the insurance of credit reduce the costs of financials. The companies interested in obtaining this financials will have to head to the Financial Entities collaborators.
